By Sarah Lizee
Olympia, Wash., Oct. 29 – Morgan Stanley Finance LLC priced $8.74 million of contingent income autocallable securities due Oct. 28, 2022 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the shares close at or above the downside threshold level, 80% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 10.05%.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the stock’s initial price on any quarterly determination date.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Apple Inc.
|
| Amount: | $8,740,610
|
| Maturity: | Oct. 28, 2022
|
| Coupon: | 10.05% per year, payable quarterly if shares close at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date
|
| Initial share price: | $246.58
|
| Downside threshold: | $197.264, 80% of initial share price
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 30
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| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 61770C566
|
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